Alramz Real Estate established a Shariah-compliant fund of more than SR3.6bn, managed by SNB Capital, with Alramz holding 100% of the units. The vehicle covers a 90,000+ sqm site in Al Raed district, Riyadh. 2,505 residential apartments plus commercial space, on a development contract worth roughly SR1.2bn, with 10% development fees and 2.5% marketing fees over an approximately five-year term.
2,505 units delivered into a market where new residential mortgage lending has roughly halved year on year. The build is a five-year bet that the financing side normalises well before handover, and that is the assumption to interrogate, not the design.
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Fifty-five thousand homes
Talaat Moustafa Group's Saudi subsidiary signed a preliminary agreement with PIF-owned ROSHN Group to form a joint company exploring a mixed-use development in Riyadh expected to comprise more than 55,000 residential units, alongside retail, commercial, hospitality, entertainment, healthcare and education facilities. TMG Saudi will hold 51% of the joint company and ROSHN 49%, following a 7 June memorandum of understanding under PIF's urban development and livability ecosystem, part of its 2026-2030 strategy and the Kingdom's 70% homeownership target.
The minority stake shows that PIF is bringing in execution expertise. Developers who want to win Saudi residential projects should focus on improving their delivery track record instead of just acquiring more land.
Ten billion and a December date
AWS is investing $10.3 billion in Saudi Arabia, including $5.3 billion (SAR 19.9 billion) in a cloud region with 3 independent availability zones launching in December 2026, and more than $5 billion in an AI zone with HUMAIN targeting 50 megawatts by 2028 and deploying up to 150,000 AI accelerators. AWS projects $191 billion of economic value from cloud services by 2033, will train 100,000 Saudi nationals including a free programme for 10,000 women, and is integrating curriculum at 11 Saudi universities.
This commitment applies to both general cloud services and AI. If you manage enterprise IT, plan your regular migration for the December launch instead of waiting for an AI project to justify the move.
Riyadh's Startup Bench
More than 2,500 startups, roughly US$2.6 billion of venture capital into Riyadh since 2018, and four unicorns.
The takeaway: your next competitor — or your next acquisition — is younger than your strategy document. Corporates need a scouting lane, not a memo.
